Indian Parliament to buzz with Satyam fisaco

by Nksagar | February 12, 2009 at 07:44 pm

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The government has ordered a CBI enquiry into the 7800 crore rupees scam in Satyam Computers. Replying to a volley of queries during the question hour in the Rajya Sabha today, the Minister for Corporate Affairs, Mr. Premchandra Gupta, said, however, no time frame can be set for the investigations as million of documents are involved. He, however, said the Serious Frauds Investigations Office (SFIO) has been given three months to submit its findings. Mr. Gupta said the government had already ordered investigations into the fraud on the 13th of last month by the SFIO.The minister said the Institute of Chartered Accountants of India is also examining the role and conduct of the statutory auditors of the company with regard to the functions discharged by them.The Minister assured the house that the enquiries by different agencies are on and proper action will be taken against the erring auditors once the enquiries are over reports AIR news.

2009-02-13 04:05:27 - Lok Sabha today will go on ruckus on the subject Satyam that was rocked by a Rs. 7,800 crore accounting fraud, prompting the government to takeover operations to prevent damage to the Indian IT industry.

Parlour of various political outfit it is decided in the business advisory committee meeting, where the leaders of various political parties agreed for a discussion on the fraud.Minister of Corporate Affairs P C Gupta is likely to reply to the discussion.BJP leader L K Advani on Thursday sought a judicial probe into the scam, saying it was now more than
a corporate fraud.Satyam case is not a corporate fraud but a governmental scandal.

Billion ruppes worth fiscal corporate embezzelment in Indian corporate making news across globe appears to be profits of Satyam Computer Services were sneakingly diverted to buy the total activities of Maytas Infra, including buying amassing land,projects, real state within the state and elsewhere in the country

In India Inc this Satyam fiscal fraud case appears to world at large unique but most companies it is usual practice by which most of the corporate captains has developed into multiple companies for their kiths and kinsa with their families the heads: Satyam founder did made an efforts to run parralel mutliple companies of equal footing overlooking many legal guidliness found efforts stuck due to global meltdown and was unable to arrange funds and found himself in thick of controversies.

2009-01-13 18:49:46 - Parliamentary election campaiging to start within two to three months the Satyam fiasco, a fiscal scandal to come up an important election issue in various states:TDP Chief Chandrababu Naidu wondered why YSR was "so interested in Maytas", saying projects worth over Rs 36,000 crore were awarded to the company without following due procedure.

2009-01-13 08:40:05 - High time for Stayam new board look for boss within the company and place his/her services as directors to keep the Satyam spirit goingimporting boss may do more harm then amy gain:

Satyam golden script need at this hours of cisis to elevate its top level managment at helm of affair and keep the silken touch with its prestigeous clients and inspire its more than fifty three thousand professional to work with more enthusiasm.Mutliple investigating authorities, many more outsiders induction will make the decsion making body fragile entity.
Satyam which has gone in
crisis due to internal mismangement of its internal mangement must immediately look from its working managment employees as internal team of directors of professional to put the Satayam on rail:

Corporate world looks to Indian system of its potential to revive the company and use its value based dictum and further hodl all companies under such organised system where each enteries are online and can be checked and verfied from IT,ROC and other taxing authorities.

Indian corporate needs badly in transparency towards its shareholders, investors,Financial institutions,and bankers: A high time for India Inc and goverance community to reach the globe and prove its prudence many corporate opporunities are in hybernation with neo-format unolding with ease: